Introduction to Brokaw Credit Union
First established in 1986, Brokaw Credit Union is a credit union based in the state of Wisconsin. It is the 63rd largest credit union operating in the state of Wisconsin as measured by total assets. The credit union falls under the category: state charter. The National Credit Union Administration (NCUA) insures deposits at credit unions in addition to regulating and supervising them. The NCUA was formed by the U.S. Congress in 1970. The company has a total of 2 branches and employs a total of 17 employees.
Overview of the Credit Union’s Assets and Liabilities
Some of the key components of the credit union’s balance sheet are total assets of $69 million, total loans extended to customers of $64 million and customer deposits of $28 million. The average credit union in Brokaw Credit Union’s peer set has a loan to deposit ratio of approximately 55%. In comparison, Brokaw Credit Union has a loan to deposit ratio of 45% which is clearly lower than the peer set. A lower ratio is generally better as it indicates that the lending activities of a credit union are more comfortably covered by its deposit base. Deposits are often the most cost effective source of funding for banks and credit unions. Taking a closer look at the credit union’s loan portfolio, we see that auto loans represent 39% of the total and currently stands at $11 million, while there is $10 million of loans outstanding from mortgages and lines of credit which represents 36% of the credit union’s loan portfolio.
Contact and Other Helpful Information
- Main Office Address: Po Box 199, Weston, WI 54476-2381
- Website: www.brokawcu.com
- Phone: (715) 359-7012
- Charter Number: 67000
- Charter Year: 1986
- Employees: 17
- Routing Number: 275977159
- Membership: Brokaw Credit Union has a membership base of 5,950 which is significantly smaller than the average credit union operating in the state of Wisconsin. The average credit union in the state has 30,757 members. Over the past three years, the credit union’s total base of members has declined by 6%.
Brokaw Credit Union: Financial Overview
As shown in the above chart, Brokaw Credit Union’s assets have expanded by 14.5% over the past year, while its auto loans – which is its largest category of lending – have decreased by 12.6% over the past year. Furthermore, the company’s deposits have expanded by 19.1% while its total loans have declined by 4.5%. A credit union’s net worth is a good proxy for the value that a credit union has accrued over time. Based on the latest available information, Brokaw Credit Union’s net worth stands at $5 million. This implies that the credit union has a net worth per member of $913 which is below the national average of $1,606.
Overview of the Credit Union’s Performance Metrics
The chart above compares Brokaw Credit Union’s performance on three metrics to credit unions in its peer group and also shows the credit union’s performance on each metric in the prior year. These are some of the important measures for a credit union’s performance that we look at. If we take a look at Brokaw Credit Union’s return on assets – which is usually a good measure of how efficiently a company is using its assets to produce profits – we see that the credit union is below the average comparable credit union and also that over the past year ROA has been relatively stable given the year over year change of 0.01%. The delinquency rate is a measure of what percentage of an entity’s loan book has fallen past due i.e. is delinquent. All else equal, a higher rate implies a worse performing loan portfolio. In the case of Brokaw Credit Union its delinquency rate is above its peers and over the past 12 months the credit union’s delinquency rate has deteriorated. The net worth ratio for the credit union is 7.8% and has declined compared with the prior year figure of 8.6%. The credit union is also below its peer group average of 10.2% on this metric. Finally, based on the NCUA guidelines, the company’s net worth ratio would classify it as well capitalized.
After factoring in all the relevant information and data, our final rating for Brokaw Credit Union is 2.4 out of 5.0, which is average. Importantly, please be aware that none of the information presented is meant to be investment advice or advice of any form. All of the information and views expressed in this note and on this site are purely for informational purposes.
Other Credit Unions in Wisconsin
|Credit Union Name||Website||Total Members|
|Connexus Credit Union||http://www.connexuscu.org||389,326|
|Landmark Credit Union||https://www.landmarkcu.com||364,792|
|University of Wisconsin||http://www.uwcu.org||310,221|
|Royal Credit Union||http://www.rcu.org||251,235|
|Summit Credit Union||http://www.summitcreditunion.com||223,603|
|Simplicity Credit Union||http://www.simplicity.coop||27,035|
|Oakdale Credit Union||http://oakdalecu.coop||11,137|
|Southern Lakes Credit Union||http://southernlakescu.org||9,884|
|Taylor Credit Union||http://taylorcu.org||7,853|
|Tomah Area Credit Union||http://www.tacuonline.com||6,950|
|Holy Family Memorial||http://hfmcu.org||1,689|